How much would you need?

[Webzter]

Salaryman, hope you don't mind that I trounced all over your post here. I think our situation and our planning is pretty close. And, I think $5mm is a great safe number to shoot for; I'm sure I'll end up working longer than needed just to get to a 'safer' number.

Just don't work too long if you can get out sooner ;-)

 

[Spanky]

I voted for 2-2.5 mill. Part of that is a tax issue. If you have US or other taxes to pay, that wouldn't be enough in my view with 2 kids to educate and a comfort level that funds wouldn't run out. I don't have that problem hence a 3% withdrawal rate of USD 60,000 is net of taxes for me. That makes for a comfortable, albeit unspectacular ER. Who could really ask for anymore than that anyway

Your vote is very similar to my estimate. My current expenses are $40,000. After an addition of $12,000 for health care, the est. total is $52,000. At 20% tax rate, the required income will be $65,000. The required portfolio is $1.63 mil for 4% SWR and $2.15 mil for 3% SWR.

 

[Salaryman]

Salaryman, hope you don't mind that I trounced all over your post here. I think our situation and our planning is pretty close. And, I think $5mm is a great safe number to shoot for; I'm sure I'll end up working longer than needed just to get to a 'safer' number.

Just don't work too long if you can get out sooner ;-)

Webzter, it didn't even register.
I've found that it always helped to set the bar high...it's the masochist in me.

I do hope that you and all others on this post achieve their goals of ER sooner rather than later.

Regards,